Jan 24, 2013

Wage gap: Salaries – the great social and moral divide - swissinfo

Wage gap: Salaries – the great social and moral divide - swissinfo: (8 Jan 2013)

"The lowest-paid employee at Novartis would have to work 266 years to earn the SFr15.7 million ($17.1 million) the drugmaker’s chief executive Joseph Jimenez received in 2011 alone. This wage differential is the largest measured by the trade union Travail Suisse in its annual survey."
The lowest paid Novartis employee would have earned SFr5,000 per month.
This is a very good "lowest" pay by Singapore standards.

Let us compare with a Singapore example.
The Singapore President had a salary of S$4,267,500 in 2010.
There were many Singaporeans who earned S$400 per month, or about $5,000 a year.

They would have to work 853 years to earn the President's pay in 2010 alone.

In this report by the Ministry of Manpower, Singapore, 78,000 out of 1,700,000 employees earned less than $400 a month, in 2010.

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